DTN Early Word Grains 12/26 06:12

DTN Early Word Grains 12/26 06:12 Grains Expected Firmer on Trade, Commodity Sector Rally March corn steady to up 1 cent, January soybeans up 1 to 2 cents, and March Kansas City wheat up 1 to 2 cents. By Tregg Cronin DTN Contributing Analyst 6:00 a.m. CME Globex: March corn steady to up 1 cent, January soybeans up 1 to 2 cents, and March Kansas City wheat up 1 to 2 cents.. CME Globex Recap: Financial markets are quiet in the first session after the Christmas holiday with that tone expected the rest of the week. This week sees many year-in-reviews posted as well as predictions for 2020. While 2019 was a year to remember, 2020 has the makings of an even more volatile year, with a potential impeachment trial, the 2020 presidential election, multiple trade deals to complete and another year of record fiscal deficit. And to think, the aforementioned events are just the ones we know about! Grain markets are expected to start higher following the Christmas day break with the general attitude toward ag markets still bullish. Managed funds remain short the grain sector and signs are still positive for getting something done with china on trade in early January. If the deal surprises to the upside, the short-covering trend with funds should continue. Producers are expected to remain reluctant sellers into the new marketing year and until after the Jan. 10 USDA reports. OUTSIDE MARKETS: Previous closes on Tuesday showed the Dow Jones Industrial Average down 36.08 at 28,515.45 and the S&P 500 down 0.63 at 3,224.01 while the 10-year Treasury yield ended at 1.91%. Early Thursday, the March DJIA futures are up 36 points. Asian markets are higher with Japan's Nikkei 225 up 142.05 (0.6%) and China's Shanghai Composite up 25.47 points (0.85%). European markets are mixed with London's FTSE 100 up 8.65 points (0.11%), Germany's DAX down 17.92 points (0.13%) and France's CAC 40 up 0.18 points (0.01%). The March euro is down 0.00030 at 1.114 and the March U.S. dollar index is up 0.034 at 97.285. The March 30-year T-Bond is down 1/32nd, while February gold is up $4.40 at $1,509.20 and February crude oil is up $0.21 at $61.32. Soybeans on China's Dalian Exchange were up 0.16% while soybean meal was down 0.33%.